Kennedy Wilson has successfully secured a $175-million senior construction loan for the development of Artwalk Towers, a 595-unit multifamily community located in Jersey City’s Journal Square. The project is being spearheaded by Kushner Real Estate Group, one of the most renowned developers in Journal Square.
Artwalk Towers will be an impressive 49-story residential tower offering residents an array of amenities. One notable feature is the Art Walk connector that will provide direct access to Manhattan via the nearby Journal Square PATH station. Completion of this project is expected in late 2027.
Thomas Whitesell, head of Kennedy Wilson’s Debt Investment Group expressed his excitement about closing their first loan with Kushner Real Estate Group. He also praised their track record for delivering top-notch projects that cater to the needs and desires of local residents. This successful closing marks a significant milestone as it coincides with Kennedy Wilson’s debt group celebrating its one-year anniversary at Kennedy Wilson. In just one year, they have originated over $2.4 billion worth loans for high-impact multifamily and student housing projects across various locations nationwide.
